Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessShopify’s Rating Slashed to Underweight at Piper Sandler

Shopify’s Rating Slashed to Underweight at Piper Sandler

Add to Favorite
Added to Favorite


Piper Sandler downgraded Shopify (NYSE:SHOP) shares from Neutral to Underweight, with analysts reducing the price target to $56 from the previous $58 per share.
The analysts highlighted Shopify’s significant outperformance this year, driven by its exit from the logistics business and a renewed focus on profitability. They acknowledged Shopify as a dominant force in the commerce platform sector, with over 2 million merchants and generating over $200 billion in Gross Merchandise Volume (GMV), alongside a top-line growth rate of more than 20%.
Despite these positives, the analysts raised concerns about Shopify’s current valuation, deeming it unsustainable. They believe that the growth and profit expectations currently reflected in the stock price are excessively optimistic. The decision to downgrade the rating is not influenced by macro factors, execution, or short-term demand. Instead, the analysts anticipate a moderation in Shopify’s fundamentals in 2024, as the company moves past events unique to 2023.

Subscribe to get Latest News Updates

Latest News

You may like more
more

Loews Posts Strong Q3 Earnings Growth, But Shares Fall 4 percent

Loews (NYSE:L) reported third-quarter net income of $401 million,...

Marriott Shares Slip 3 percent as Q3 Earnings Miss Estimates

Marriott International (NASDAQ:MAR) reported third-quarter earnings below analyst expectations...

DigitalOcean Shares Drop 10 percent on Weak Outlook Despite Strong Q3 Performance

DigitalOcean (NYSE:DOCN) saw its shares slide over 10% intra-day...

New York Times Beats Q3 EPS, But Shares Drop 7 percent

The New York Times Company (NYSE:NYT) posted third-quarter earnings...